i have stock of iron and steel with me in form of Non Excise Invoice i.e VAT invoice, what will happen and how much input credit will i get in GST.
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Input credit in gst
Replies (1)
As per Sec140(3) you have to file TRAN-1 form in GST with details of your Stock,
if u provided all invoices of with 1 year, you will get full ITC, otherwise you may get 60% or 40% ITC on your stock.
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